Reforming
foreign investment

Strengthening Australia’s foreign investment framework

The Government is committed to
strengthening Australia’s economy.
To achieve this, foreign investment
is essential and that is why the
Government welcomes all foreign
investment that is not contrary to our
national interest. Australia is open
for business, with foreign investment
approval granted for $167 billion of
proposed investment in 2013‑14, up
23.4 per cent on 2012-13.

Enforcing the rules

A robust regulatory framework
reflecting changing demands is
essential to maintaining community
support and a welcoming investment
environment. On 2 May 2015, the
Government announced a package of
measures to strengthen the foreign
investment framework to make sure
the rules are enforced.

The ATO will be given responsibility
for regulating foreign investment
in residential real estate, including
stronger enforcement of the rules
supported by enhanced data
matching systems.

There will be additional and stricter
penalties to ensure foreign investors
and intermediaries do not profit from
breaking the rules.

The introduction of application fees
on all foreign investment applications
will improve service
delivery and ensure Australian
taxpayers are no longer funding the
administration of the system.

More scrutiny and
transparency

The Government is also delivering
on its commitment to increase
scrutiny and transparency around
foreign investment in agriculture,
lowering screening thresholds for
agricultural land and agribusiness
and implementing a comprehensive
register of foreign ownership in land.

The Government is consulting further
on options to ensure Australia has
a modern, streamlined foreign
investment system.